While I’m focusing on our state with these series of articles, the processes described are generally applicable for other states. I recommend that you visit your state’s business developent center to learn your specific requirements.
Officially Starting Your Business with the State
Indiana, and other states, have made it very easy to file your paperwork online with the Secretary of State’s office. Before you file, take a look at this checklist to make sure you are ready.
- Determine the business type (See Part 1)
- Decide on a business name
- Decide about your principal office address
- Have the name and address of a Registered Agent
- Have all the names and addresses of principals involved
- Be prepared to pay the fee with a credit card
Business Name
Most state laws require that the name of a business must be distinguishable from the names of other businesses on the records of the Secretary of State’s office. Most states have an online search tool that will let you search for your desired name. If your desired business name isn’t available, you may have to think of alternatives. Keep in mind that you will also want to use this name to register a web site address later on. A simple name is often the best.
Principal Address
Each state will want to know your principal office address. This is the physical address of your business. You may also provide a mailing address as well. If you are planning on running your business out of your home, you may want to get a post office box just for your business mailing address.
Registered Agent
Each business must continually maintain in the state of registration a responsible individual called the Registered Agent. An entity’s registered agent is the business’s agent for service of process, notice, or demand required or permitted by law to be served on the entity. The registered office address must be a street address. If an attorney is preparing your business paperwork, often that attorney will serve as your registered agent. It is permissible for you to be your own registered agent.
Other Persons
If you are the only responsible person in your business, then you need not worry about having the names and addresses of other persons. However, if you are entering into a partnership or there is more than one person managing your Limited Liability Corporation, then you will need their information. You should have available names and business addresses of any Incorporators and/or principal officers of the business. Principal Officers would be the highest executive officer, directors, and possibly the secretary of the business.
Paying Filing Fees
Have your credit card ready! Indiana will accept Visa, MasterCard, and Discover. Check with your state to verify what credit cards are acceptable. States have different fees based on the business type.
Next Steps…
In the next article, we will discuss additional filings that may be required (city and/or county), registering with the IRS and state taxing authoring, and more.
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